“I’m mosting likely to break your bubble,” this is how Andreas M. Antonopoulos, a major Bitcoin fanatic, described Bitcoin ETF. He felt that his explanation would certainly make numerous crypto enthusiasts thinking about the Bitcoin ETF take their steps back as it is a “awful suggestion”.
” I know a great deal of individuals really wish to see an ETF take place since “to the moon and also lambos!” Yet I assume it is a terrible idea. I still assume it is going to occur, I simply assume it is an awful suggestion. I’m in fact against ETFs. I believe a Bitcoin ETF is mosting likely to be damaging to the ecosystem,” he stated.
Bitcoin ETF can adjust costs
Concerning Bitcoin ETF’s capacity of bring in considerable amount of exposure, its emergence has triggered assumptions. It has actually likewise seen a rise in prices and trading quantities once it has actually been accepted.
ETFs could open up the Bitcoin market to a team of institutional financiers and can likewise offer a platform for huge capitalists to manipulate the cost of Bitcoin (BTC). Antonopoulos in his YouTube video clip collection, ‘Bitcoin Q&A’, he said: “Everybody is so excited about ETFs. What we have seen in various other markets is that when an ETF appears, the cost truly boosts drastically, as unexpectedly that product becomes available to a great deal much more capitalists and these capitalists pile on.
” However, the other side of it, is that there are always these cases that the commodities markets are greatly manipulated and also opening up these ETFs just increase the capability of institutional investors to control the costs of products.”